Thu., February 10, 2011 1:04pm (EST)

PSC Delays Vote On Nuke Costs Plan

By Associated Press

Updated: 2 years ago

ATLANTA   —   Utility regulators want Georgia Power and its critics to keep negotiating a proposal that would cut the power company's profits if construction of a new nuclear plant costs too much.

The Public Service Commission decided Thursday to delay a vote on a cost control plan until March. The commission told the utility commission staffers and public advocacy groups to continue their talks.

Commission staff members have proposed taking a carrot-and-stick approach as the utility attempts to build two more nuclear reactors at Plant Vogtle near Waynesboro.

Under the plan, Georgia Power would be allowed to earn more money off its new reactors if it keeps construction costs below $5.8 billion. If building costs exceed $6.4 billion, then regulators would lower the company's earnings.